How to get more from your cash at Robinhood

Option 1: Treasury bills, bought at auction

Backed by the U.S. government and free of state income tax. Usually the most you can keep in a high-tax state, and with automatic rollover it runs on its own. New to them? Read the full Treasury bill guide.

1. In your account, open the trade menu and find Bonds or Fixed income.
2. Look for new-issue Treasuries or Treasury auctions and pick a bill. They come in 4, 6, 8, 13, 17, 26 and 52 weeks; 13 or 26 weeks is typical for cash.
3. Enter the amount. Auction orders fill at the auction’s yield, so there’s no price to choose.
4. If there’s an automatic rollover or reinvest option, turn it on, so the money doesn’t land back in the low-rate sweep when the bill matures.
5. Place the order before the broker’s cutoff, often a day or so before the auction. The cash leaves your account on the issue date.

These steps hold at most brokers; Robinhood’s exact menu names may differ. Its help pages are linked below.

Option 2: A money market fund

The simplest switch: one trade, and the money is usually available the next business day. Not FDIC-insured, but government and Treasury funds hold only government debt.

1. Search the fund’s ticker in the trade screen and choose Buy. At this firm: a T-bill ETF such as SGOV, bought like a stock (it's a fund, not a bill, and its price moves slightly).
2. Enter a dollar amount. Check the fund’s minimum and whether the firm charges a fee to buy it.
3. Ask whether it can be your default cash (“core” or “sweep”) option, so new deposits land there automatically. Some firms allow it; many don’t.

Before you move it

• Leave enough in the sweep for bills, transfers and trades you have coming up.
• T-bills pay their full yield if held to maturity. Sold early, they get the market price, which can be a little more or less.
• Money market funds aren’t FDIC-insured; the sweep usually is. Treasury bills are backed by the U.S. government.
• In an advisory account, ask whether the advisory fee is charged on cash. A 1% fee on cash earning little can cost more than it earns.
• Prefer not to use the broker? TreasuryDirect sells bills directly, with an automatic reinvest option.

Robinhood’s own help pages

• Robinhood: What are Treasury bills?

General information, not investment advice. Rates and menus change; confirm with Robinhood before you trade. See what Robinhood’s cash rate has cost you so far →